Get all your news in one place.
100's of premium titles.
One app.
Start reading
Al Jazeera
Al Jazeera
Business

Major crypto lender BlockFi files for bankruptcy protection

BlockFi Crypto FTX New Jersey SEC
Crypto lenders are not required to hold capital or liquidity buffers like traditional lenders, and some have now found themselves exposed [File: Kin Cheung/AP Photo]

Major cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection along with eight affiliates, it has said, the latest crypto casualty to follow the spectacular collapse of the FTX exchange earlier this month.

The filing in a New Jersey court on Monday comes as crypto prices plummet, with Bitcoin down more than 70 percent from a 2021 peak.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
James McAvoy explains why he quit alcohol
X-Men star James McAvoy has revealed he quit alcohol after he started drinking too much during the COVID-19 lockdowns.
BANG Premier
BANG Premier
​Make the most out of the last spoonful
​Before you throw away that jar with only a bit left inside, turn it into a dressing, sauce, glaze or even a drink instead
The Guardian - UK
The Guardian - UK
GLP-1 weight-loss drugs change how people eat, but nausea needs closer study
Someone taking a weight-loss drug might leave half their dinner because they feel comfortably full. They might also stop because they feel nauseous. Measuring the leftovers would reveal the same result, but tell researchers little about why the person stopped eating.
The Conversation
The Conversation
This beauty set promises $950 worth of products for $150. Does it deliver?
We reviewed Revolve’s 12- and 25-day beauty advent calendars to see if the brand’s offerings provide value for your money
The Guardian - US
The Guardian - US
Shazam! star Michael Gray dies
Actor Michael Gray, who famously played teenage Billy Batson in the 1970s CBS series Shazam!, has died of natural causes at the age of 75.
BANG Premier
BANG Premier
Iris Sets Auction Record: Monet canvas fetches €50mn in Paris; France hails new mark
At a Paris auction, Claude Monet's painting titled Iris fetched an astounding 50 million euros, setting a new record for artwork sold in France. The event not only celebrated this remarkable sale but also marked the centenary of Monet's passing, with three more of his exquisite paintings featured at the…
The Times of India
The Times of India
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play